Block Plunges on a Short-Seller Report: Time to Sell?

Motley Fool2023-03-23

KEY POINTSBlock, formerly known as Square, was having a terrible day on Thursday, with shares down by about 20% shortly after the market opened.A short-seller report accuses Block of all sorts of ...

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Comments

买香蕉也用券
2023-03-24
买香蕉也用券
Hinderburg shorted ardani (asia's wealthest) that indian freak and is now 100billion in profit uopohhh
FilMel050321
2023-03-24
FilMel050321
Ok
中蓝的中榕
2023-03-23
中蓝的中榕
Buy the dip, the short seller trying to create panic in retails so they can win
BitcoinMaxi
2023-03-23
BitcoinMaxi
I caught the bottom. Easy money.
- 大白兔女生:
  Same

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As of 10 a.m. ET, Block's shares had lost a staggering 20% of their value, heading sharply in the opposite direction of the overall financial sector.So whatThe reason for the massive plunge in Block is a report by notable short-seller Hindenburg Research announcing its short position in the fintech stock.In a nutshell, Hindenburg accuses Block of inflating Cash App's user base and having very little in the way of fraud controls. Over a two-year investigation, Hindenburg claims it has taken advantage of the unbanked people it claims to be helping by facilitating illegal activity.Hindenburg makes several other allegations as well, such as Block taking advantage of stimulus check payments during the early days of the COVID-19 pandemic, getting around regulatory caps to increase its revenue from interchange fees, and disregarding anti-money laundering rules.The report was summarized by claiming that Block has misled investors, embraced predatory behavior, and has knowingly profited from fraud against both consumers and the U.S. government.Now whatWhen a short-seller report like this is released, it should certainly be taken seriously, but it's also important to take a step back and understand it is just one side of the story. We have yet to hear Block's response, plus keep in mind that Cash App is just one side of Block's highly successful business. I'll certainly be keeping an eye on this story as it unfolds, but I also have absolutely no intention of selling my shares based solely on this report.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9943405418,"gmtCreate":1679598220134,"gmtModify":1679607378635,"author":{"id":"4109941540501062","authorId":"4109941540501062","name":"买香蕉也用券","avatar":"https://community-static.tradeup.com/news/bd3a71caa40eb6e0d2468ff0ffa1a967","vip":1,"hat":"https://static.tigerbbs.com/a3dee1aa3a3a3c1814833a4d3f8a5669","crmLevel":2,"crmLevelSwitch":1,"idStr":"4109941540501062","authorIdStr":"4109941540501062"},"htmlText":"Hinderburg &nbsp;shorted ardani (asia's wealthest) that indian freak and is now 100billion in profit uopohhh","listText":"Hinderburg &nbsp;shorted ardani (asia's wealthest) that indian freak and is now 100billion in profit uopohhh","text":"Hinderburg shorted ardani (asia's wealthest) that indian freak and is now 100billion in profit uopohhh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9943405418","repostId":1152104596,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9943401035,"gmtCreate":1679593240428,"gmtModify":1679593244881,"author":{"id":"3577968104930020","authorId":"3577968104930020","name":"FilMel050321","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"hat":"https://static.tigerbbs.com/b0a2963eb37c60c5d6d4a8dbcd266952","crmLevel":3,"crmLevelSwitch":1,"idStr":"3577968104930020","authorIdStr":"3577968104930020"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9943401035","repostId":1152104596,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9943573066,"gmtCreate":1679584883856,"gmtModify":1679584889543,"author":{"id":"4115942724488802","authorId":"4115942724488802","name":"中蓝的中榕","avatar":"https://community-static.tradeup.com/news/08d497b0dc9c6ea2bbc5fbad09b071f9","vip":1,"hat":"https://static.tigerbbs.com/50a4c8d97279fa9f8f1fa9749a6bdff4","crmLevel":8,"crmLevelSwitch":1,"idStr":"4115942724488802","authorIdStr":"4115942724488802"},"htmlText":"Buy the dip, the short seller trying to create panic in retails so they can win","listText":"Buy the dip, the short seller trying to create panic in retails so they can win","text":"Buy the dip, the short seller trying to create panic in retails so they can win","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9943573066","repostId":1152104596,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9943570495,"gmtCreate":1679584348018,"gmtModify":1679584352082,"author":{"id":"3575705860283755","authorId":"3575705860283755","name":"BitcoinMaxi","avatar":"https://community-static.tradeup.com/news/e4a0d3f31ab627d7ead179da6e16f516","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":1,"crmLevelSwitch":1,"idStr":"3575705860283755","authorIdStr":"3575705860283755"},"htmlText":"I caught the bottom. Easy money.&nbsp;","listText":"I caught the bottom. Easy money.&nbsp;","text":"I caught the bottom. Easy money.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9943570495","repostId":1152104596,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":106121853,"gmtCreate":1679584417073,"gmtModify":1679584420641,"authorId":3567027336968594,"author":{"id":3567027336968594,"idStr":"3567027336968594","authorId":3567027336968594,"name":"大白兔女生","avatar":"https://static.tigerbbs.com/9164215640a1bec6913d46610a230edf","vip":1,"currentWearingBadge":{"badgeId":"44212b71d0be4ec88898348dbe882e03-3","templateUuid":"44212b71d0be4ec88898348dbe882e03","name":"President Tiger","description":"The transaction amount of the securities account reaches $1,000,000","bigImgUrl":"https://static.tigerbbs.com/fbeac6bb240db7da8b972e5183d050ba","smallImgUrl":"https://static.tigerbbs.com/436cdf80292b99f0a992e78750ac4e3a","grayImgUrl":"https://static.tigerbbs.com/506a259a7b456f037592c3b23c779599","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2022.05.26","exceedPercentage":"93.18%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1101},"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9943570495,"type":1,"supId":0,"prevId":0,"content":"<span class=\"s1\">Same</span>","text":"<span class=\"s1\">Same</span>","html":"<span class=\"s1\">Same</span>"}],"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":49,"commentSize":4,"repostSize":3,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1152104596"}